Advertisement
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Private equity has played a significant role in shaping Indi...
Luxury real estate is one of the most talked-about segments ...
Airports play a much bigger role than just enabling travel -...
Mahindra Lifespace Developers Ltd reported a strong start to FY27, with residential sales bookings more than doubling to INR 925 crore during the June quarter, supported by sustained housing demand. The company also recorded higher customer collections, expanded its project launches, and handed over 957 homes during the quarter. Alongside robust operational performance, Mahindra Lifespace posted significant growth in revenue and net profit. The developer continues to strengthen its residential portfolio while expanding its integrated developments and industrial clusters across multiple locations in India.
Mahindra Lifespace Developers Ltd recorded more than a twofold increase in residential sales bookings during the June quarter of FY27, reflecting continued demand for housing across its key markets. The company reported pre-sales of INR 925 crore during the quarter, compared to INR 449 crore in the corresponding period of the previous financial year.
According to the company's latest investor presentation, Mahindra Lifespace sold 0.6 million square feet of residential space during the quarter while launching projects spanning 1.36 million square feet. The company also collected INR 527 crore from customers during the period and handed over 957 homes to buyers, indicating steady project execution alongside new launches.
The strong operational performance was accompanied by improved financial results. During the past week, the company reported a 67 per cent rise in its consolidated net profit to INR 85.55 crore for the June quarter of FY27, compared with INR 51.26 crore in the corresponding quarter of the previous year.
Its total income also increased sharply to INR 977.54 crore from INR 40.61 crore in the year-ago period, supported by higher revenue recognition and continued progress across its residential developments.
Managing Director and Chief Executive Officer Amit Kumar Sinha said the company had started FY27 on a strong note, driven by robust growth in pre-sales and healthy profitability. He added that the performance reflected the company's focus on execution, customer demand and business fundamentals.
Mahindra Lifespace has been witnessing steady momentum in its residential business over the past few quarters as demand for premium and mid-income housing remains resilient across major urban markets. The company has also been expanding its project pipeline through a mix of outright developments, redevelopment opportunities and joint development agreements, while maintaining a presence in the industrial and integrated township segment.
Established in 1994, Mahindra Lifespace Developers has a residential portfolio of 55.50 million square feet of saleable area, including completed, ongoing and upcoming projects across seven cities. The company also has more than 5,500 acres of ongoing and forthcoming projects under development or management across four integrated developments and industrial cluster locations.
Source PTI
Advertisement
Facebook
Whatsapp
